DANGOTE BETS CASH GENERATION ON $45BN EXPANSION
Dangote Group is pursuing a $45 billion investment programme aimed at expanding its industrial businesses and increasing annual revenue to $100 billion by 2030.
Dangote Cement, the group’s largest cash-generating business, is expected to play a major role in funding the expansion through internally generated cash. The cement company is targeting an increase in production capacity from 55 million tonnes per annum to more than 80 million tonnes.
The company recorded $3.1 billion in revenue in the 12 months to June 2026, representing a 22 per cent year-on-year increase. Its cash conversion stood at 89 per cent during the period, while return on capital employed was 68 per cent.
The wider $45 billion investment programme extends beyond cement to areas including oil refining, petrochemicals, fertiliser, gas, infrastructure and other industrial businesses. Dangote Group is targeting $30 billion in adjusted EBITDA by 2030 alongside its $100 billion revenue objective.
The group is also expanding its African footprint, with Dangote Cement currently operating across 11 countries and selling into 25 markets. Its cement expansion plans include new capacity and related products such as aggregates, mortars, dry mixes and ready-mix concrete.
As the expansion gathers pace, the group is relying on the strong cash-generating capacity of its existing businesses, particularly cement, alongside financing and investment from other sources. The company’s strategy is aimed at building a larger, more diversified industrial group with significant operations across Africa by 2030.
